XAU/USD Longs from 2695.000 or 2665.000 back up to supplyThis week, my analysis for gold leans toward continued bullish momentum. Over the past week, gold has shown significant bullish behaviour, including a clear change of character to the upside on the higher time frame. My plan is to look for buying opportunities at the nearest valid demand zones, specifically the 55-minute or 13-hour demand zones below the current price level.
Following this corrective move, I anticipate another rally to the upside, potentially mitigating my marked supply zones above, where I’ll evaluate for short-term selling opportunities. However, I’ll reassess as the week progresses. For now, my bias remains firmly bullish on gold.
Confluences for GOLD BUYS:
- Price has broken structure to the upside and continues to display strong bullish momentum.
- Both higher and lower time frame analysis indicate persistent bullish pressure.
- Key demand zones provide excellent retracement levels for potential buy entries.
- Significant upside liquidity remains untapped, acting as potential targets.
- Candlestick patterns highlight robust bullish sentiment.
P.S. With ongoing fundamental news driving gold’s bullish movement, my sentiment will remain bullish unless there’s a clear indication of a trend reversal.
